When, for the purposes authorized by Section 60.171 (Authority to Borrow Money and Encumber Property and Franchise) of this code, a commission proposes to borrow money and mortgage and encumber any part or all of its properties, facilities, franchises, revenue, and income from the operation of its properties and facilities, the commission shall give notice of intention to authorize and issue the evidence of the indebtedness.
The commission shall fix a time and place at which a public hearing concerning the proposed indebtedness shall be held. The date of the hearing shall be not less than 15 days nor more than 30 days from the date of the resolution of the commission giving the notice.
Notice published by the commission under this section shall:
include a statement of the amount and purpose of the proposed indebtedness;
inform all persons of the time and place of hearing; and
inform all persons of their right to appear at the hearing and contend for or protest the creation of the indebtedness.
The secretary of the commission shall post copies of the notice for 10 days before the day of hearing in three public places in the district and at the door of each county courthouse located in the district.
The notice also shall be published one time not less than five days before the day of the hearing in a newspaper of general circulation in the district. If a newspaper is not published in the district, the notice shall be published in some newspaper published in any county situated in whole or in part within the district.
The duties imposed on the secretary of the commission by this section may be performed by any commission member or the assistant secretary of the commission.Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.